Speaking at the Global Economic Cooperation conference here, Jaishankar also said the world is witnessing the weaponisation of production, finance, leveraging of market shares and tightening of export controls.
“From a position of strength, India is engaging international partners more intensively. This is demonstrated in the recently concluded trade deals,” he said.
Jaishankar further said the world has entered a volatile and uncertain era, possibly the most turbulent in living memory.
“The established global order is clearly changing; replacements are hard to create and we appear to be headed to a long twilight zone,” he added.
Following a phone conversation between Prime Minister Narendra Modi and US President Donald Trump, both sides recently announced a reduction of US tariffs on Indian goods to 18 percent from 50 percent.
Last month, India and the European Union (EU) concluded negotiations for the proposed free trade agreement (FTA), which will help boost two-way commerce and strengthen economic ties between the two sides, Commerce Secretary Rajesh Agrawal earlier said.